See daily chart of NZDCAD below for the discussion that follows.
NZDCAD made a bearish engulfing candle around an area of resistance this past Thursday. Because the candle is so big, I’m waiting to see if price can retrace into the body of the candle. If this happens, I will likely go short.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
